Gruner Renewable Energy announced on Monday that it has successfully secured $60 million in funding to enhance its presence in the green energy sector. This significant investment will enable the company to establish new compressed biogas (CBG) plants across the country, furthering its commitment to energy independence and sustainability in line with Prime Minister Narendra Modi’s vision.
The newly acquired funds will be strategically utilized to bolster Gruner’s operations and market footprint. A substantial portion of the investment will be directed towards advancing the company’s research and development (R&D) efforts, aiming to introduce breakthrough technology and highly efficient processes in the biogas industry. Gruner is dedicated to increasing energy efficiency and the accuracy of biogas production, projecting a significant rise in energy output efficiency.
In addition to enhancing R&D, the funding will support the business expansion of Gruner Renewable Energy. This includes establishing new biogas plants across India, scaling up CNG retail outlets, and exploring new business verticals such as sustainable aviation fuel (SAF) and green hydrogen. The strategic investment is expected to exponentially increase Gruner’s market share over the next five years.
“Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India’s vision of energy independence,” said Utkarsh Gupta, Founder & CEO of Gruner Renewable Energy.
The Union Budget 2023-24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has provided a significant boost to the sector. Currently, there are 113 functional CBG plants, with 667 in development and 171 under construction, showcasing substantial growth.
“These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation,” Gupta added.
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